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Seco SpAMIL:IOT +4.19%79 3-Year ROIIC % is 58.46 as of Dec. 2025, which is 1519% above its 10-year median of 3.61. GuruFocus rates MIL:IOT with a GF Score™ of 79/100 and a GF Value™ of €3.08 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,375 Hardware companies, Seco SpA ranks better than 85.77% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Seco SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 58.46%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Seco SpA's 3-Year ROIIC % or its related term are showing as below:
MIL:IOT's 3-Year ROIIC % is ranked better than 85.77% of 2375
companies
in the Hardware industry
Industry Median: 2.34
vs MIL:IOT: 58.46
Seco SpA (MIL:IOT) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Seco SpA 3-Year ROIIC % Related Terms
Seco SpA 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Seco SpA's 3-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:IOT vs SNDK, DELL, STX: 3-Year ROIIC % Comparison
For the Computer Hardware subindustry, Seco SpA's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Seco SpA 3-Year ROIIC % vs Hardware Industry
For the Hardware industry and Technology sector, Seco SpA's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Seco SpA's 3-Year ROIIC % falls into.
Seco SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 2.6814205 (Dec. 2025) - 18.604302 (Dec. 2022) )
/
( 373.58 (Dec. 2025) - 400.819 (Dec. 2022) )
=
-15.9228815
/
-27.239
=
58.46%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Seco SpA (MIL:IOT) has a 3-Year ROIIC % of 58.46 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Seco SpA and its competitors. This is 1519% above median its historical median of 3.61. According to the industry distribution chart, Seco SpA ranks #338 out of 2375 companies in the Hardware industry, placing it in the top 14.2%.
Is Seco SpA's 3-Year ROIIC % too high?
Seco SpA's current 3-Year ROIIC % of 58.46 is 1519% above median its 10-year median of 3.61. The Hardware industry median 3-Year ROIIC % is 2.34. Seco SpA's value of 58.46 is 2398.3% above this industry median. Based on the distribution chart, Seco SpA ranks #338 out of 2375 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Seco SpA has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Seco SpA's 3-Year ROIIC % compare to SNDK and DELL?
According to the Hardware industry distribution chart, Seco SpA ranks #338 out of 2375 companies for 3-Year ROIIC %. This places Seco SpA in the top 14% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 2.34. Seco SpA's value of 58.46 is 2398.3% above this benchmark. While the company's 10-year median is 3.61 vs. the industry median of 2.34, Seco SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Hardware company?
The median 3-Year ROIIC % among Hardware companies is 2.34, based on 2,375 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Seco SpA's current 3-Year ROIIC % of 58.46 is 2398.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Seco SpA and its competitors. For the Hardware industry, the median 3-Year ROIIC % is 2.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Seco SpA's current 3-Year ROIIC % is 58.46, which is 1519% above median its own 10-year median of 3.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Seco SpA stock overvalued right now?
Based on GuruFocus' analysis, Seco SpA (MIL:IOT) is currently considered Modestly Overvalued. The stock's GF Value™ is €3.08, compared to a current price of €3.49 — trading 13.1% above its estimated fair value. The current 3-Year ROIIC % is 58.46, which is 1519% above median its 10-year median of 3.61 and 2398.3% above the Hardware industry median of 2.34. Seco SpA's overall GF Score™ is 79/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Seco SpA (MIL:IOT), the current 3-Year ROIIC % is 58.46 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Seco SpA (MIL:IOT) Overvalued in 2026?
Based on GuruFocus' analysis, Seco SpA stock appears to be overvalued.
The current stock price of €3.49 is trading 13.1% above its estimated GF Value™ of €3.08.
GuruFocus considers Seco SpA to be Modestly Overvalued.
Key valuation signals for MIL:IOT:
3-Year ROIIC %: 58.46 (1519% above median its 10-year median of 3.61)
GF Value™: €3.08 vs. price of €3.49 (13.1% above fair value)
Industry Position: 2398.3% above the Hardware median (#338 of 2375)
No single metric tells the full story. See the MIL:IOT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Seco SpA is engaged in designing and developing embedded computing solutions and technologies for the digitization of industrial products, focusing on Edge Computing, Internet of Things (IoT), and Artificial Intelligence (AI). The group mainly serves industrial OEMs and system integrators through a business-to-business model, offering both hardware solutions-such as modules, single board computers, and HMI systems-and its proprietary Clea IoT-AI software platform for connectivity, device management, and AI deployment. The company operates through two segments: Seco and Seco NE.
79GF Score
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